The project, which would include 124 high-end apartments, still needs to go through a lengthy permitting process.
Patriot Ledger | By Sean Cotter
January 24, 2017
QUINCY – A proposal for what would be the tallest building in Quincy cleared a major hurdle Monday night.
Quincy’s city council gave its unanimous blessing to an agreement the city administration has negotiated with developer Peter O’Connell. The agreement would result in the city selling part of the Hancock parking lot to O’Connell, a longtime Quincy developer who would have the benefit of significant tax breaks in building 124 high-end apartments on top of 4,000 square feet of retail space.
The vote does not give the development, which would be called Chestnut Place, the go-ahead. It still has to pass through several stages of the local and state permitting processes, and some aspects of the agreement still are pending further votes by the council.
Several of the councilors talked about the ability of such a large, dense building to stimulate growth in Quincy Center, which various city administrations have wanted to redevelop for years. Administration officials and city councilors say there’s momentum underway downtown with the construction of other apartment buildings and several new restaurants moving into the area.
“This is a piece of the puzzle to keep this going,” said at-large Councilor Noel DiBona.
At-large Councilors Joseph Finn and Nina Liang said that this use of the lot would be better for the city than either what it is now or a smaller building that a developer would build if there weren’t tax incentives.